What is likely to increase your winnability in elections: rate of inflation in excess of 8 percent, with prices of food items rising in double digits, or a subdued price environment? Since mehengai (price rise) remains a constant theme in all elections, a stable price regime is a sure-shot winner. That, indeed, is the case if we follow the conventional wisdom. However, what we discovered on 11 December was that the variable of ‘low price means an election victory’ does not always hold.
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